Gold price: This Year September May Bring FallPosted Thu, 2014-08-21 10:00NAI EditingOn the Comex division of the New York Mercantile Exchange, gold futures for December delivery – the most active contract – came under heavy selling pressure losing more than $20 to $1,274, a two month

Brent Falls Fourth Day in Five on Economy; WTI Oil Drops Posted Thu, 2014-08-14 11:04NAI EditingBrent oil dropped for the fourth time in five days as the euro bloc’s economic recovery stalled. West Texas Intermediate decreased after U.S. crude stockpiles increased last week for the first time since June.
Futures fell as much as 1.7 percent in London. Euro-area gross domestic product in the three months through June was unchanged from the first quarter, according to Eurostat, the European Union’s statistics office in Luxembourg. Libya will reopen its largest oil export port within days, the National Oil Corp. said. U.S. crude supplies rose 1.4 million barrels, Energy Information Administration data showed yesterday.
“There’s growing concern about the European economy and what that will mean for fuel demand,” said Gene McGillian, an analyst and broker at Tradition Energy in Stamford, Connecticut. “There are ample supplies here and throughout the Atlantic basin, which is weighing on both Brent and WTI.”
Brent for September settlement, which expires today, fell $1.65, or 1.6 percent, to $102.63 a barrel on the London-based ICE Futures Europe exchange at 10:12 a.m. New York time. The more-active October contract dropped $1.69, or 1.6 percent, to $103.37. The volume of all futures traded was 11 percent above the 100-day average for the time of day.
Output from OPEC’s 12 members climbed 300,000 barrels a day in July to a five-month high of 30.44 million a day, as Saudi Arabia raised production.
WTI fo